Untangling China IPO delays part of bigger story

Greater financial liberalisation in China is the key to unlocking pan-Asian portfolio investment flows, which would enable to the region to finance its own growth rather than rely on Western financial markets.

However, that road is a bumpy one although the Communist Party’s plenum in November called for reforms to boost the role of market-based decisions, the reopening of the A-share IPO market has been fraught with cancellations and delays imposed by the securities regulator....